Summary
Summary ODT 200 King IV Flashcards
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Flashcards for King IV report. These flashcards are detailed, well structured and easy to study.
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The exercise of ethical leadership andWhat is corporate governance for the purpose of King IV?
effective leadership to meet governance outcomes.
1
CRAFTI
C – Competence
R – Responsibility
A – Accountability
What are the characteristics of effective leadership? F – Fairness
T – Transparency
I – Integrity
2
, – Ethical culture
– Good performance
Name the 4 governance outcomes
– Effective control
– Legitimacy
3
1. Steers and sets strategic direction
2. Approves policy and planning
Name the Governing Body's primary role and 3. Ensures accountability for organizational
responsibilities performance.
4. Oversees and monitors implementation &
execution by management.
4
, – Promote corporate governance as integral
– Broaden the acceptance of King IV by making it
accessible
– Reinforce corporate governance (CG) as a holistic and
What are the objectives of King IV? interrelated set of arrangements.
– Encourage transparent and meaningful
reporting to stakeholders.
– Present CG with not only structure and process, but also
with an ethical consciousness and conduct.
5
1. Sustainable development
2. Integrated thinking – organisation as part of society.
What are the underpinning philosophies of King IV? – stakeholder inclusivity
– corporate citizenship
3. Integrated reporting
6
, 1. Development that meets the needs of the present without
compromising the ability of
future generations to meet their needs.
Define:
2. The recognition that the organisation is an
1. Sustainable development
integral part of the broader society in which it
2. Corporate citizenship
operates, affording the organisation standing as a juristic
person in that society with rights,
responsibilities and obligation.
7
1. King IV is a set of voluntary principles and
King IV Application & Disclosure
leading practices. Non–compliance is not
1. What is the legal scope of King IV?
necessarily breaking the law. King IV is not an act.
2. What is the scope of
2. King IV aspires to apply to all organisations,
application of King IV?
regardless of their form of incorporation.
8
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